Company News for May 1, 2009

The third-largest US automaker, Chrysler, filed for bankruptcy protection yesterday. The firm is expected to undergo a 30-60 day restructuring, receiving $8 billion in government funds and creating an alliance with Italian automaker Fiat, which managed its owned turnaround in the past 5 years.

Today’s expected releases include: Allergan (NYSE:AGN - Analyst Report), Chevron (NYSE:CVX - Analyst Report), Clorox (NYSE:CLX - Snapshot Report), Dean Foods (NYSE:DF - Analyst Report), and MasterCard (NYSE:MA - Snapshot Report).

Aon (NYSE:AOC) reported a first quarter as earnings at 76, 12 cents less than expected, along with a 2.7% revenue decline to $1.85 billion.

Dean Foods (NYSE:DF - Analyst Report) reported first quarter results of 52 cents, 10 cents better than expected, as revenues dropped 12.2% to $2.7 billion with indications of a solid start to the second quarter.

Fortune Brands (NYSE:FO - Analyst Report) reported first quarter results of $1.03, ahead of estimates by 8 cents notwithstanding revenues plunged 20.3% to $1.44 billion, as was expected.

Research in Motion (NASDAQ:RIMM - Analyst Report) received an analyst upgrade from UBS (NYSE:UBS - Snapshot Report).

Goldman Sachs (NYSE:GS - Analyst Report) issued $2 billion 5-year notes lacking government guarantees and a $750 million stock offering.

Citigroup (NYSE:C - Analyst Report) announced sale of its Japanese brokerage and investment unit to Sumitomo Mitsui Financial for about $7.9 billion.

Chevron Corp. (NYSE:CVX - Analyst Report) announced first quarter profit fell 64 percent as it, along with competitors, was distressed by lower oil and natural gas prices.

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